‘Containers for Drugs’ New Mantra for Manufacturers of Parenteral Packaging Products; Plastic to Make Way for Glass as the Most Preferred Packaging Material
Manufacturers of parenteral packaging products are moving away from the ‘drugs for container’ concept and are focusing on providing ‘containers for drugs’ – implying the adoption of appropriate materials to manufacture parenteral containers. The 3P’s driving the global parenteral packaging market are Product, Process, and Patient, and given the increasing focus on sustainability and green initiatives, plastic is slowly being eliminated from the parenteral packaging ecosystem. Companies are shifting towards prefilled and ready-to-use containers and this is expected to augment the usability of parenteral products in self-medication.
Parenteral Packaging Market
In this report, Future Market Insights (FMI) offers a 10-year forecast of the global paren...
As such, the global market for parenteral packaging is set to witness significant growth in the next 10 years, as estimated in a study by Future Market Insights. According to a report released by the leading market research firm, the global parenteral packaging market is set to exceed US$ 10 Bn by the end of 2018. Exhibiting a growth rate of 4.8% in the coming decade, revenue from the sales of parenteral packaging products is slated to cross US$ 16 Bn by 2028. Sustainability is the buzzword here – manufacturers are steadfast in their focus on addressing environmental concerns; which probably explains the near-death of plastic as a preferred material for parenteral packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
Innovation to Take Centre Stage in the Manufacturing of Parenteral Packaging Products; Automation to Underpin Core Production Processes
With technology having seeped through the global industry fabric, the market for parenteral packaging products is witnessing a new era of advanced processing techniques powered by automation in the packaging industry. Advanced automation in manufacturing processes has brought in notable modifications pertaining to the provision of drugs to patients, and this integration of automation into core manufacturing systems is trending the global parenteral packaging market.
Manufacturers are also focusing on deploying high quality, contamination free processes to assemble parenteral packaging containers. These processes seek to eliminate incidences of reactions between the material used to manufacture the containers and the actual content (drugs) of the containers, thereby preventing harmful effects on patients consuming the drugs. Several product recalls in the past have forced manufacturers of parenteral packaging products to select the best material to manufacture containers, and this factor is acting in favour of revenue growth of the global parenteral packaging market.
Ready-to-Fill Formats and Automated Assembly Lines Trending the Global Parenteral Packaging Market
On the back of sustainability drives by global governments, manufacturers of parenteral packaging products are changing their operations by integrating automated systems in their assembly lines. A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run. Further, the rapidly rising demand for prefilled syringes is benefitting the global parenteral packaging market. Specific requirements from the healthcare industry for speciality packaging products such as IV pre-mixed systems and single-use vials is also expected to bolster revenue generation in the global market for parenteral packaging in the coming years.
Newer Raw Material Options to Create Increased Growth Opportunities for Manufacturers of Parenteral Packaging Products
Over the years, conventional raw materials used to manufacture parenteral packaging products have witnessed several advancements. Add to this the introduction of newer types of material to manufacture parenteral packaging containers, and the global market is suddenly a hotbed of opportunities for manufacturers. The global parenteral packaging market is witnessing strategic collaboration between manufacturers and suppliers for both the sourcing of appropriate raw materials and the final packaging formats. For instance, polymers such as cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) are being sought after in large numbers, owing to their inherent advantages over conventional plastic and glass used to manufacture parenteral packaging containers. The introduction of better raw material types supports increased sophistication in drug delivery technologies, thereby helping manufacturers up their revenue standing in the global market. Needless to say, this is positively impacting revenue growth of the global parenteral packaging market.
For deeper insights on innovations in parenteral packaging raw material and to know what strategies manufacturers are implementing to stay at the top in this lucrative market, write in to [email protected]
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
- Global Beverage Packaging Market
- Corrugated Boxes Market
- Plastic Pails Market
- Iv Infusion Bottle Seals And Caps Market
- Filament Tapes Market
- Temperature Controlled Packaging Solutions Market
- Protective Packaging Market
- Dairy Products Packaging Market
- Next Generation Packaging Technology Market
- Container Glass Market
- Cosmetic Pencil And Pen Packaging Market
- Confectionery Packaging Market
- Plastic Caps And Closures Market
- Nylon Films For Liquid Packaging Market
- Temperature Controlled Pharmaceutical Packaging Solutions Market